NOMURA HOLDINGS (NMR) Company Report

Analyst Coverage

Research analysts who have asked questions during NOMURA HOLDINGS earnings calls.

Kazuki Watanabe

Daiwa Securities Co. Ltd.

3 questions for NMR

Also covers: IX, SMPNY

Koichi Niwa

Citigroup Inc.

3 questions for NMR

Also covers: DSEEY, IX

Masao Muraki

SMBC Nikko Securities Inc.

3 questions for NMR

Also covers: DSEEY, IX, SMPNY

Wataru Otsuka

SBI SECURITIES Co., Ltd.

3 questions for NMR

Also covers: DSEEY, IX

Muraki

SMBC Nikko Securities Inc.

2 questions for NMR

Also covers: IX

Nagasaka

Morgan Stanley

2 questions for NMR

Natsumu Tsujino

BofA Securities

2 questions for NMR

Also covers: DSEEY, IX, SMPNY

Otsuka

ACBI Securities

2 questions for NMR

Also covers: IX, SMPNY

Tsujino

BofA Securities

2 questions for NMR

Also covers: IX

Watanabe

Daiwa Securities Group Inc.

2 questions for NMR

Koki Sato

JPMorgan Chase & Co.

1 question for NMR

Also covers: DSEEY, IX, SMPNY

Mia Nagasaka

Morgan Stanley MUFG Securities Co., Ltd.

1 question for NMR

Also covers: DSEEY, MFG

Sato

JPMorgan Security

1 question for NMR

Also covers: IX

Latest news

Recent press releases and 8-K filings for NMR.

Nomura Holdings Inc. Reports Strong Q2 2026 Financial Results with Increased Net Income and Revenue

NMR

Earnings

Revenue Acceleration/Inflection

Net income attributable to NHI shareholders for the six months ended September 30, 2025, increased by 17.5% to ¥196,643 million.
Net revenue for the six months ended September 30, 2025, rose by 10.8% to ¥1,038,777 million, primarily driven by strong performance in net gain on trading.
The Wealth Management Division reported an 11.7% increase in recurring revenue assets to ¥26.2 trillion as of September 30, 2025.
Total assets grew by 6.3% to ¥60,367.7 billion as of September 30, 2025, resulting in a rise in the leverage ratio to 17.3x.
The company reported net cash provided by operating activities of ¥942.8 billion for the six months ended September 30, 2025, a significant improvement from a net cash outflow in the prior year.

Dec 12, 2025, 11:05 AM

6-K

Genting Malaysia Privatization Bid Fails, Company Remains Listed

NMR

Delisting/Listing Issues

Takeover Bid

New Projects/Investments

Genting Bhd's attempt to take its affiliate Genting Malaysia private failed, as it secured only a 73.13% stake, falling short of the 75% threshold required to delist the company from Bursa Malaysia.
An independent adviser recommended shareholders reject the RM2.35 (US$0.56) per share offer, citing it as "not fair and not reasonable" despite being a nearly 10% premium over the stock's last traded price prior to the offer.
As a result, Genting Malaysia will remain publicly listed, with its public shareholding spread staying above the mandated 25% level.
In a significant development, Genting Malaysia's wholly owned subsidiary, Genting New York LLC, was selected to apply for a commercial casino gaming license in New York, with analysts projecting net profit from this expansion could peak at around 1.93 billion ringgit by 2030.

Dec 1, 2025, 1:16 PM

Bloomberg

Nomura Completes Acquisition of Macquarie's U.S. & European Public Asset Management Business

NMR

M&A

New Projects/Investments

Management Change

Nomura Holdings, Inc. has completed the acquisition of Macquarie’s U.S. and European public asset management business.
The acquisition was for US$1.8 billion and adds approximately US$166 billion in retail and institutional client assets to Nomura's global Nomura Asset Management brand as of October 31, 2025.
The acquired assets, combined with Nomura's private markets and high yield businesses, will form Nomura Asset Management International, with Shawn Lytle appointed as CEO.
This transaction is a significant step towards Nomura's 2030 Management Vision, aiming to boost assets under management and diversify its platform, and also formalizes a strategic partnership with Macquarie for product distribution and co-development of investment strategies.

Dec 1, 2025, 11:01 AM

6-K

Numerai Raises $30M, Valuation Hits $500M

NMR

New Projects/Investments

Revenue Acceleration/Inflection

Numerai, an AI-driven hedge fund, secured $30 million in a Series C funding round, valuing the company at $500 million, a five-fold increase from its 2023 valuation.
This funding, alongside a $500 million capacity commitment from J.P. Morgan Asset Management, positions Numerai to scale its AI-driven investment strategies toward nearly $1 billion in assets under management.
The firm's flagship equity fund returned over 25% net in 2024 with only one down month, showcasing strong performance.
The new capital will be allocated to expand AI engineering and research teams, grow its data science competition, and scale institutional products.

Nov 20, 2025, 11:07 PM

Bloomberg

Kingsoft Cloud Reports Q3 2025 Revenue Growth and Narrowed Net Loss

NMR

Earnings

Revenue Acceleration/Inflection

New Projects/Investments

Kingsoft Cloud Holdings Limited reported Q3 2025 revenue of approximately CNY 2,478 million.
The company significantly narrowed its net loss in Q3 2025 to CNY 4.62 million, a substantial improvement from a net loss of CNY 1,057.14 million in the same period the previous year.
In Q3 2024, Kingsoft Cloud achieved an adjusted net profit of RMB 28.7 million, driven by 16% revenue growth and an 84% revenue increase from ecosystem partnerships, particularly with Xiaomi.
The company's AI segment contributed around 31% of public cloud revenue, underscoring its importance in the growth strategy.

Nov 19, 2025, 11:27 AM

Morningstar

Nomura Holdings Inc. Reports Financial Results for Six Months Ended September 30, 2025 and Strategic Updates

NMR

Earnings

Dividends

M&A

For the six months ended September 30, 2025, Nomura Holdings, Inc. reported net revenue of ¥1,038,777 million, income before income taxes of ¥296,927 million, and net income attributable to NHI shareholders of ¥196,643 million. Basic earnings per share were ¥66.54 and diluted earnings per share were ¥64.53.
The company's Wealth Management segment saw client assets increase by ¥18.5 trillion to ¥162.3 trillion as of September 30, 2025, while Investment Management's assets under management grew by ¥11.9 trillion to ¥101.2 trillion over the same period.
Nomura Holdings, Inc. is in the process of acquiring Asset Management Companies within the Macquarie Group for approximately $1.8 billion (approximately ¥278.9 billion), with the legal transfer expected by the end of December 2025.
As of September 30, 2025, total assets stood at ¥60,367,700 million and total equity was ¥3,608,659 million. The leverage ratio increased to 17.3 times from 16.4 times as of March 31, 2025.
The Board of Directors resolved to pay an interim dividend of ¥27 per share for the period ended September 30, 2025.

Nov 19, 2025, 11:02 AM

6-K

Nomura Investigates India Fixed-Income Business for Potential Profit Inflation

NMR

Legal Proceedings

Accounting Changes

Nomura Holdings Inc. is conducting an internal investigation into its India fixed-income business to determine if profits were inflated by potentially overvaluing trades in STRIPS (Separate Trading of Registered Interest and Principal of Securities).
The probe, initiated by the bank's compliance department about a month ago, focuses on whether the trading desk marked positions to theoretical prices that did not reflect actual market liquidity, which could have potentially boosted reported gains.
This inquiry highlights growing concerns about accounting practices within India's rapidly expanding $1.3 trillion sovereign debt market, where STRIPS trading volumes reached ₹2.47 trillion ($28 billion) in the year ended March 31, more than six times higher than five years ago.

Nov 17, 2025, 3:55 AM

Bloomberg

Nomura Holdings Reports Financial Highlights for Six Months Ended September 30, 2025

NMR

Earnings

Revenue Acceleration/Inflection

Nomura Holdings, Inc. reported net revenue of 1,038.8 billion yen, a 10.8% increase from the prior year, and net income attributable to NHI shareholders of 196.6 billion yen for the six months ended September 30, 2025. Basic-Net income per share was 66.54 yen, with a Return on shareholders’ equity of 11.3%.
As of September 30, 2025, the company's Tier 1 Capital ratio was 15.1%, Common Equity Tier 1 Capital ratio was 12.9%, and Consolidated Capital Adequacy ratio was 15.7%.
The Wholesale segment's net revenue increased by 6.3% to 540.3 billion yen, with income before income taxes rising 43.1% to 95.0 billion yen for the six months ended September 30, 2025, primarily due to a 21.0% increase in Equities net revenue.
The Investment Management segment's net revenue increased by 7.4% to 111.4 billion yen for the six months ended September 30, 2025, though income before income taxes decreased by 5.2% to 52.2 billion yen.

Nov 5, 2025, 11:02 AM

6-K

Nomura Holdings Reports Strong Q2 FY2026 Financial Results

NMR

Earnings

Revenue Acceleration/Inflection

Nomura Holdings, Inc. reported net revenue of Y515.5 billion and net income of Y92.1 billion for the second quarter of the fiscal year ending March 2026, achieving a Return on Equity (ROE) of 10.6%.
The company maintained its ROE above the 8-10%+ target for the sixth consecutive quarter, with all three international regions remaining profitable for the ninth consecutive quarter.
The Investment Management division's assets under management reached a record high of Y101.2 trillion, marking its tenth consecutive quarter of net inflows.
The Wealth Management division also saw recurring revenue assets and recurring revenue rise to record highs, with net inflows for the 14th consecutive quarter.

Oct 31, 2025, 10:01 AM

6-K

Nomura Holdings, Inc. Reports Q2 FY2026 Financial Results and Declares Dividend

NMR

Earnings

Dividends

Revenue Acceleration/Inflection

Nomura Holdings, Inc. reported Q2 FY2026 net revenue of 515.5 billion yen (US$3.5 billion), representing a 7% increase year-on-year, while net income was 92.1 billion yen (US$622 million), a 6% decrease year-on-year.
For the first half of FY2026, net revenue grew 11% year-on-year to 1,038.8 billion yen (US$7.0 billion), and net income increased 18% year-on-year to 196.6 billion yen (US$1.3 billion).
The company achieved a second quarter Return on Equity (ROE) of 10.6% and a first-half ROE of 11.3%.
Divisional highlights include Wealth Management's record high recurring revenue assets with 14 consecutive quarters of net inflows, Investment Management's all-time high Assets Under Management (AuM) of Y101.2 trillion, and Wholesale's 43% stronger pretax income year-on-year.
Nomura declared a half-year dividend of 27 yen per share, payable on December 1, 2025, to shareholders of record as of September 30, 2025.